A DESPERATE search was launched yesterday to find a buyer for stricken music and entertainment retailer HMV.

Trading in the company’s shares was suspended and last night ­accountants Deloitte were appointed administrators. The move, which puts 4,500 jobs at risk, followed disappointing Christmas sales and a failure to reach a rescue deal with suppliers and banks.

Joint administrator Nick Edwards said: “We are working very closely with management and staff to stabilise the business in order to continue trading whilst actively seeking a purchaser.”

Chief executive Trevor Moore said management had a plan to turn around the business and he hoped a buyer could be found to push through the proposals. That triggered speculation the group might be able to survive if it focused on its flagship stores and websites and closed smaller outlets.

Private equity firm Endless, which specialises in turning around distressed businesses, said it had approached Deloitte while other possible contenders are buyout firm Hilco, which bought HMV’s Canadian offshoot last year, and Jon Moulton’s Better Capital.

Moore, pictured inset, the former Jessops boss who joined in September, said: “We will do our best to create a business with a long-term future. I’m as passionate as when I joined in September. I would like to be involved in the business going forward if that opportunity presents itself.

“We have a plan in mind about how we develop this and I don’t think it is beyond us to deliver. There are likely to be many options for this business. It would be appropriate for an administrator to look at all the options and at this stage nothing can be dismissed.”

The firm admitted Christmas sales were disappointing and although it grew its share of the DVD and games market and held its share of music it suffered from a shortage of supplies of two key brands of computer tablets which were the season’s must-haves.

HMV praised the “amazing support” of suppliers, who a year ago helped it cut debts, despite reports they declined a request last week for an additional £300million.